The Messer
Registered User
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Not really sure how to calculate potential CGT on a UK property I have
The Facts:
Bought in 2000 for £60,000 (£500 legal fees) Stg Euro rate on the day 0.61
Lived in the property for 2 years then returned to Ireland
Has been rented since (fully tax compliant)
Current Value £100,000 today (sale cost 2000) Exchange rate today 0.86
Do I do the calculation in Euros and then calculate CGT
or
Do the calculation in Sterling, calculate the gain and change that to Euro to work out liability?
There is a massive difference in the results.
The Facts:
Bought in 2000 for £60,000 (£500 legal fees) Stg Euro rate on the day 0.61
Lived in the property for 2 years then returned to Ireland
Has been rented since (fully tax compliant)
Current Value £100,000 today (sale cost 2000) Exchange rate today 0.86
Do I do the calculation in Euros and then calculate CGT
or
Do the calculation in Sterling, calculate the gain and change that to Euro to work out liability?
There is a massive difference in the results.